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2023-03-31-accounts

REGISTERED COMPANY NUMBER: CE003720 (England and Wales) REGISTERED CHARITY NUMBER: 1160916

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

AGE CONCERN SOUTHEND-ON-SEA CIO

Clouders Chartered Certified Accountants Charter House 103-105 Leigh Road Leigh-on-Sea Essex SS9 1JL

AGE CONCERN SOUTHEND-ON-SEA CIO

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5 to 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 17
Detailed Statement of Financial Activities 18 to 19

AGE CONCERN SOUTHEND-ON-SEA CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2023 The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The object of the charity is to promote the relief of older people in any manner which now is or hereafter may be deemed by law to be charitable within the City of Southend-on-Sea and surrounding areas.

Staff & Volunteers

As of 31st March 2023, the Charity had six full time and eight part time paid members of staff (equivalent in total to nine full time members of staff) supported by approximately 180 volunteers. The charity provides telephone and face-to-face befriending to older people, advice and signposting, wheelchair hire and hearing aid battery exchange and in 2019 opened its "one-stop" community hub ("The Haven").

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Committee Members' Responsibilities in Relation to the Financial Statements

Law applicable to charities in England and Wales require the Executive Committee to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to: -

The Executive Committee are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Club 50+ CIO

On 28th February 2018 Age Concern Southend-on-Sea CIO merged with Club 50+ CIO, charity No 1152184, which operated from 1b Queens Road, Southend-on-Sea, Essex, SS1 1LT.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Page 1

AGE CONCERN SOUTHEND-ON-SEA CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

CE003720 (England and Wales)

Registered Charity number

1160916

Registered office

134 Hamlet Court Road Westcliff on Sea Essex SS0 7LN

Trustees

Jan Reed (Chair) Cliff Couch (Treasurer) Mark Birchall Sharon Box Keith Davies Linda Eastwood Keith Luxon Mike Nicholson Graeme Siddons

On 9th June 2022 Lisa Eastwood and Graeme Siddons were appointed as trustees. On 27th July 2022 Cliff Couch and Keith Luxon were appointed as trustees and Cliff Couch was appointed Treasurer. On 18th October 2022 Jan Reed was appointed as chair. On 28th March 2023 Louise Gloyne resigned as a trustee due to increased family commitments.

The trustees seek re-election and are re-appointed on an annual basis at the Annual General Meeting and meet quarterly or more frequently, if necessary. Trustee meetings are also attended by the CEO of Age Concern Southend-on-Sea who also acts as secretary at meetings.

Independent Examiner

Clouders Chartered Certified Accountants Charter House 103-105 Leigh Road Leigh-on-Sea Essex SS9 1JL

Bankers

CAF Bank Limited Metro Bank 25 Kings Hill Avenue 1 Southampton Row Kings Hill London West Malling WC1B 5HA Kent ME19 4TA

Page 2

AGE CONCERN SOUTHEND-ON-SEA CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023

CHAIRMAN'S REPORT

Yet again, the last 12 months has proved to be another difficult year for Age Concern Southend-on-Sea ("ACSOS") but I am pleased to say that the charity has continued to weather the storms and that its financial position has improved significantly since the year end. On July 25th, 2022, ACSOS was notified that the trustees of Age UK Essex had awarded it £100,000 from the proceeds of its liquidation. These funds were finally received on April 3rd, 2023. In addition, on April 6th, 2023, the charity was awarded £30,000 by the Garfield Weston Foundation to help fund its operating costs.

As well as being a difficult year it has also been a very busy one and, because of the hard work and dedication of our team, our community hub, The Haven, now regularly attracts over 4,000 visitors a month and we have achieved thereby our vision of creating a thriving, vibrant community centre that everyone wants to come to. We now offer over thirty different classes a week providing activities designed to improve the health and well-being of older people, both physical and mental, such as falls management, keep fit, tai chi, yoga, singing for memories, sewing, crochet, computer and art classes, knit and natter, coffee and conversation and a book club. The Haven also houses a 60-seater café, counselling services, foot care clinic, ear wax removal and hearing tests, reflexology, massage, nail and facial treatments and our specialist day care service providing a bespoke service for those suffering from neurological disorders such as dementia.

Our financial sustainability was also strengthened by the award of a grant of c.£69,000 from the Southend Community Investment Fund in January 2023 to fund additional part-time staff so that the opening hours of The Haven can be extended from 9 a.m. to 4 p.m. on weekdays only to 9.am to 9 p.m. on weekdays and 9 a.m. to 4 p.m. at weekends. This will enable the charity to run its own activity and leisure classes at these times thereby increasing its revenue.

While The Haven is now open to the whole community, our objective continues to be to ensure that the older people of Southend live healthier, happier, more independent lives. To this effect, during 2022 we re-commenced our face-to-face befriending service which had to close in March 2020 due to the coronavirus pandemic. We currently provide face-to-face befriending to 63 older people and provide a telephone befriending service to 112 people but, sadly, have over 150 people still seeking a befriender. To address this issue, we were fortunate to obtain a grant of c.£19,000 from the Southend Community Investment Fund to hire two Volunteer Co-ordinators whose primary role will be to find volunteer befrienders and volunteers to run IT classes to help us address the growing issue of "digital poverty" whereby older people that cannot use IT are significantly disadvantaged. We also provide low-cost wheelchair hire and replacement hearing aid batteries and our information and advice line handles more than 150 calls a month.

While the number of COVID cases has now, thankfully, significantly reduced, the continued high number of COVID cases in the first half of 2022 coupled with the heatwave in July significantly reduced attendances at our activity classes and our day care centre substantially reducing our income. This, coupled with a significant increase in utility costs resulted in the depletion of the free funds that we had available to cover our monthly overheads. As charitable donations from the public have still not recovered to pre-pandemic levels, ACSOS has continued to rely on support from charitable trusts and foundations. I would, therefore, like to thank the following organisations for their support during 2022/23, particularly the Essex Community Foundation and the Tudor Trust which kindly provided s with grants to help fund our core costs, without which the charity may not have survived:

Page 3

AGE CONCERN SOUTHEND-ON-SEA CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023

I would also like to thank Nigel and Paul Havens for their continued support and help.

We have continued to strengthen our team and trustee board over the past year and continue to believe that The Haven will be self-financing as income from the rent of offices and meeting rooms, income from the franchising of the café, foot care, massage and facial and nail treatment services, revenue from the specialist day centre, and fees payable on the activities offered at the centre will more than offset the costs of running The Haven.

Finally, I would like to thank my fellow trustees, our dedicated staff and 180+ volunteers for their continued hard work and for "going the extra mile" to help improve the lives of older people and the wider community. Yet again it has been a very tough year but our finances are now much healthier and I remain convinced that we have in place a team that will ensure that ACSOS continues to develop and improve the services that it provides.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

................................................................. J Reed - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AGE CONCERN SOUTHEND-ON-SEA CIO

Independent examiner's report to the trustees of Age Concern Southend-On-Sea CIO ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AGE CONCERN SOUTHEND-ON-SEA CIO

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

C E Binnie F.C.A.

Clouders Chartered Certified Accountants Charter House 103-105 Leigh Road Leigh-on-Sea Essex SS9 1JL

Date: .............................................

Page 6

AGE CONCERN SOUTHEND-ON-SEA CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
179,056
Charitable activities
Other charitable income
1,145
Other trading activities
3
10,062
Investment income
4
83,509
Total
273,772
EXPENDITURE ON
Raising funds
3,354
Charitable activities
Office costs
35,934
Repairs & subcontractors
6,877
Staff costs
114,371
Rent & utilities
104,041
Governance costs
16,357
Regular hub activities
16,817
Other
2,655
Total
300,406
NET INCOME/(EXPENDITURE)
(26,634)
RECONCILIATION OF FUNDS
Total funds brought forward
(42,059)
TOTAL FUNDS CARRIED FORWARD
(68,693)		 Restricted
funds
£
53,020
-
-
-
53,020
10,579
116
1,676
37,641
6,770
18,000
5,146
820
80,748
(27,728)
81,617
53,889		 2023
Total
funds
£
232,076
1,145
10,062
83,509
326,792
13,933
36,050
8,553
152,012
110,811
34,357
21,963
3,475
381,154
(54,362)
39,558
(14,804)		 2022
Total
funds
£
322,781
75
2,736
56,470
382,062
781
30,672
34,345
182,895
103,914
34,002
12,663
2,582
401,854
(19,792)
59,350
39,558

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 7

AGE CONCERN SOUTHEND-ON-SEA CIO

BALANCE SHEET

31ST MARCH 2023

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
9
171,799
CURRENT ASSETS
Debtors
10
18,507
Cash at bank and in hand
25,244
43,751
CREDITORS
Amounts falling due within one year
11
(106,203)
NET CURRENT ASSETS
(62,452)
TOTAL ASSETS LESS CURRENT
LIABILITIES
109,347
CREDITORS
Amounts falling due after more than one
year
12
(178,040)
NET ASSETS
(68,693)
FUNDS
14
Unrestricted funds:
General fund
Restricted funds:
Redundancy reserve
Restricted fund
TOTAL FUNDS		 Restricted
funds
£
807
-
54,929
54,929
(1,847)
53,082
53,889
-
53,889		 2023
Total
funds
£
172,606
18,507
80,173
98,680
(108,050)
(9,370)
163,236
(178,040)
(14,804)
(68,693)
1,714
52,175
53,889
(14,804)		 2022
Total
funds
£
180,599
21,818
88,564
110,382
(63,833)
46,549
227,148
(187,590)
39,558
(42,059)
4,700
76,917
81,617
39,558

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

continued...

Page 8

AGE CONCERN SOUTHEND-ON-SEA CIO

BALANCE SHEET - continued

31ST MARCH 2023

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

.............................................

J Reed - Trustee

The notes form part of these financial statements

Page 9

AGE CONCERN SOUTHEND-ON-SEA CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold - Over the lease term Plant and machinery - 15% on cost Fixtures and fittings - 15% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 10

AGE CONCERN SOUTHEND-ON-SEA CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

2.
DONATIONS AND LEGACIES
Donations
Gift aid
Grants
Regular hub activities
Grants received, included in the above, are as follows:
Coronavirus Job Retention Scheme Grants
Local Restrictions Control Grant
Retail, Hospitality and Leisure Grant
Restart Grant
Other Grants
3.
OTHER TRADING ACTIVITIES
Fundraising events
4.
INVESTMENT INCOME
Rents received
Deposit account interest		 2023
£
12,896
271
113,600
105,309
232,076
2023
£
-
-
-
-
113,601
113,601
2023
£
10,062
2023
£
83,365
144
83,509		 2022
£
40,187
20,599
217,219
44,776
322,781
2022
£
13,061
7,950
4,000
12,000
180,208
217,219
2022
£
2,736
2022
£
56,421
49
56,470

continued...

Page 11

AGE CONCERN SOUTHEND-ON-SEA CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |£|£| |Depreciation - owned assets|9,971|10,186| |Deficit on disposal of fixed assets|679|66|

----- End of picture text -----

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022.

7. STAFF COSTS

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |£|£| |Wages and salaries|147,210|175,378| |Social security costs|2,254|5,014| |Other pension costs|1,311|1,376| |150,775|181,768|

----- End of picture text -----

The average monthly number of employees during the year was as follows:

----- Start of picture text -----
||| |---|---| |2023|2022| |13|12|

----- End of picture text -----

No employees received emoluments in excess of £60,000.

Termination Payments

In the year ending 31st March 2023 payments totalling £2,986 was paid to two employees in the year in lieu of notice.

continued...

Page 12

AGE CONCERN SOUTHEND-ON-SEA CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
177,573
145,208
Charitable activities
Other charitable income
75
-
Other trading activities
2,736
-
Investment income
56,470
-
Total
236,854
145,208
EXPENDITURE ON
Raising funds
781
-
Charitable activities
Office costs
23,198
7,474
Repairs & subcontractors
18,378
15,967
Staff costs
136,189
46,706
Rent & utilities
91,914
12,000
Governance costs
16,002
18,000
Regular hub activities
9,049
3,614
Other
2,353
229
Total
297,864
103,990
NET INCOME/(EXPENDITURE)
(61,010)
41,218
Transfers between funds
14,482
(14,482)
Net movement in funds
(46,528)
26,736
RECONCILIATION OF FUNDS
Total funds brought forward
4,469
54,881
TOTAL FUNDS CARRIED
FORWARD
(42,059)
81,617		 Total
funds
£
322,781
75
2,736
56,470
382,062
781
30,672
34,345
182,895
103,914
34,002
12,663
2,582
401,854
(19,792)
-
(19,792)
59,350
39,558

continued...

Page 13

AGE CONCERN SOUTHEND-ON-SEA CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

9. TANGIBLE FIXED ASSETS

Short
Plant and
leasehold
machinery
£
£
COST
At 1st April 2022
165,945
61,082
Additions
-
1,516
Disposals
-
(571)
At 31st March 2023
165,945
62,027
DEPRECIATION
At 1st April 2022
18,109
32,128
Charge for year
2,207
7,013
Eliminated on disposal
-
(212)
At 31st March 2023
20,316
38,929
NET BOOK VALUE
At 31st March 2023
145,629
23,098
At 31st March 2022
147,836
28,954
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments		 Fixtures
and
fittings
£
5,658
1,491
(1,180)
5,969
1,849
751
(510)
2,090
3,879
3,809
2023
£
13,550
-
4,957
18,507		 Totals
£
232,685
3,007
(1,751)
233,941
52,086
9,971
(722)
61,335
172,606
180,599
2022
£
7,533
9,607
4,678
21,818

continued...

Page 14

AGE CONCERN SOUTHEND-ON-SEA CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
£
Other loans (see note 13)
39,000
Trade creditors
56,028
Social security and other taxes
1,650
Prepaid income
4,625
Accrued expenses
6,747
108,050
12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023
£
Other loans (see note 13)
178,040
13.
LOANS
An analysis of the maturity of loans is given below:
2023
£
Amounts falling due within one year on demand:
Other loans
39,000
Amounts falling between one and two years:
Other loans - Due in 1-2 years
178,040
Amounts falling due between two and five years:
Other loans - Due in 2 to 5 years
-		 2022
£
20,000
33,839
1,881
3,823
4,290
63,833
2022
£
187,590
2022
£
20,000
19,000
168,590

continued...

Page 15

AGE CONCERN SOUTHEND-ON-SEA CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

14. MOVEMENT IN FUNDS

As at 1st April 2022
Incoming resources
Outgoing resources
Transfers
As at 31st March 2023		 Total
£
39,558
326,892
(381,154)
-
(14,804)		 Redundancy
reserve
£
4,700
-
(2,986 )
-
1,714		 Restricted
Fund
£
76,917
53,020
(77,762)
-
52,175		 General Fund
£
(42,059)
273,872
(300,406)
-
(68,693)

1) Redundancy Reserve

The Committee decided in 2001 that £3,000 of the balance on Income and Expenditure account should be ring-fenced to provide a reserve, to cover any eventual redundancy payments, since then after multiple payments and transfers an opening balance of £4,700 was brought forward on 1st April 2022. On 22nd September 2022 £2,986 was paid using these funds for redundancy pay for Neil Adlington and Pam Harvey.

2) Restricted Fund

During the years ending from 31st March 2020 to 31st March 2022 the charity received multiple grants which were designated as restricted funds. These funds as well as the expenses these funds were spent on, have been separated from the general fund leaving a reserve of £52,175.

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st March 2023.

16. CHARITY RESERVES

The charity's reserves policy requires it to hold reserves of at least £70,000, being two months' operating costs.

As a result of the significant fall in revenue experienced because of the coronavirus pandemic and subsequent lockdowns and the continued high number of COVID cases in the first half of 2022 coupled with the heatwave in July and, in the absence of sufficient external support, the charity had to utilise its reserves to meet its rental obligations and pay staff.

As a result, its unrestricted reserves fell significantly with the result that its General Fund showed a deficit of (£68,693) as of 31st March 2023.

In April 2023, the charity received £100,000 from the proceeds of the liquidation of Age UK Essex and £30,000 from the Garfield Weston Foundation to help it fund its operating costs. As a result, the charity's reserves have improved significantly since year-end.

continued...

Page 16

AGE CONCERN SOUTHEND-ON-SEA CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023

16. CHARITY RESERVES - continued

Our aim is to continue to rebuild our reserves and ensure that the charity's income more than covers its operating costs. We continue to build our revenue streams. We have been successful in hiring space at our community hub, The Haven, and income from franchises and hirers now covers our annual lease costs. Footfall, which inevitably suffered during the COVID crisis, has steadily increased with c.4,000 people a month visiting The Haven in the period May-July 2023. In the first quarter of 2023, the charity obtained a grant from the Southend Community Investment Fund to fund the salaries of additional part-time staff to enable it to open The Haven in the evenings and weekends. This will enable it to run more activity classes thereby increasing income.

It should be noted that the charity's landlord remains highly supportive of the charity and an agreement was put in place between the landlord and the charity in April 2022 which allows for all rent unpaid as of 31st March 2022, to be repaid by instalments in the period through 31st March 2024.

Other than outstanding rental payments due to its landlord, the charity has no significant trade creditors.

Page 17

AGE CONCERN SOUTHEND-ON-SEA CIO

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Grants
Regular hub activities
Other trading activities
Fundraising events
Investment income
Rents received
Deposit account interest
Charitable activities
Other charitable income
Total incoming resources
EXPENDITURE
Raising donations and legacies
Fund raising costs
Other trading activities
Bad debts
Charitable activities
Regular hub activities costs
Staff training
Support costs
Management
Wages
Social security
Carried forward		 2023
£
12,896
271
113,600
105,309
232,076
10,062
83,365
144
83,509
1,145
326,792
13,797
136
21,963
800
22,763
147,210
2,254
149,464		 2022
£
40,187
20,599
217,219
44,776
322,781
2,736
56,421
49
56,470
75
382,062
781
-
12,663
628
13,291
175,378
5,014
180,392

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Page 18

AGE CONCERN SOUTHEND-ON-SEA CIO

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023

Management
Brought forward
Pensions
Rent & utilities
Insurance
Telephone
Advertising
Other expenses
Repairs & subcontractors
Consultancy
Short leasehold depreciation
Plant & machinery depreciation
Fixtures depreciation
Loss on sale of tangible fixed assets
Finance
Bank charges
Loan interest
Late payment interest
Governance costs
Independent examiners fee
Legal fees
Total resources expended
Net expenditure		 2023
£
149,464
1,311
110,811
7,732
5,156
1,651
14,773
8,553
20,339
2,207
7,013
751
679
330,440
936
9,451
13
10,400
2,178
1,440
3,618
381,154
(54,362)		 2022
£
180,392
1,376
103,914
4,586
3,320
395
15,200
34,345
18,000
2,387
7,008
791
66
371,780
1,055
9,524
13
10,592
2,178
3,232
5,410
401,854
(19,792)

This page does not form part of the statutory financial statements

Page 19